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Financing for Complex OKd

March 15, 1987

Permanent financing of $60 million for the Arco Tower complex in downtown Long Beach has been arranged through the Denver office of L. J. Melody & Co., Houston-based mortgage banker and investment concern.

The financing for the complex, owned by Pacific Tower Associates, was provided by the Teacher Retirement System of Texas.

The twin 14-story towers in the Arco complex at 200-300 Ocean Blvd. contain more than 473,000 square feet of office space. Pacific Tower Associates is a partnership of Swig Weiler & Dinner Development Co., San Francisco, and Harry Macklowe of New York City.

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